Pennsylvania Statutes Title 24 P.S. Education § 20-2004-B. Application by business firms

(a) Scholarship organization, pre-kindergarten scholarship organization or opportunity scholarship organization.--

(b) Educational improvement organization.--A business firm must apply to the department for a credit for a contribution to an educational improvement organization under section 2005-B. A business firm shall receive a tax credit under this article if the department has approved the program provided by the educational improvement organization that receives the contribution, subject to the limitations in sections 2005-B and 2006-B.

(c) Availability of tax credits.--Tax credits under this article shall be made available by the department on a first-come, first-served basis within the limitation established under section 2006-B(a).

(d) Contributions.--A contribution by a business firm to a scholarship organization, pre-kindergarten scholarship organization, opportunity scholarship organization or educational improvement organization shall be made no later than 60 days following the approval of an application under subsection (a) or (b). In the event a business firm does not make a minimum of 50% of the full amount of the approved contribution and has not notified the department of the amount of unused contributions within 14 days of approval, the business firm's application may not be approved in the immediately succeeding fiscal year for more than 150% of the actual amount contributed in the previous fiscal year.

(e) Application in the alternative.--At the time of application for an educational improvement or opportunity scholarship tax credit, the department shall advise a business firm that the firm may elect that its application for a particular credit will, in the alternative, be deemed an application received by the department on the same date as the preferred application, but for a different tax credit authorized under this section if the business firm's preferred choice of tax credit is not available. When a business firm does not receive its preferred choice of tax credit, the department shall promptly consider the business firm's application in the alternative for a different tax credit authorized under this section.